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      name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\Alan\Documents\Comment paper\comment paper table 2 bhps windmeijer.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}18 Jan 2016, 11:01:06

{com}. do "C:\Users\Alan\AppData\Local\Temp\STD19000000.tmp"
{txt}
{com}. **table 2 bhps**
. 
. xtabond2 lfsato l.lfsato, gmm(l.lfsato, laglimits (1 .)) twostep robust
{res}{txt}Favoring space over speed. To switch, type or click on {stata "mata: mata set matafavor speed, perm"}.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}pid{txt}{col 49}Number of obs      = {res}    77060
{txt}Time variable : {res}wave{txt}{col 49}Number of groups   = {res}    17076
{txt}Number of instruments = {res}44{col 49}{txt}Obs per group: min = {res}        1
{txt}Wald chi2({res}1{txt}){col 15}= {res}   152.02{col 64}{txt}avg = {res}     4.51
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}        9
{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}   Corrected
{col 1}      lfsato{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}lfsato {c |}
{space 9}L1. {c |}{col 14}{res}{space 2} .1152383{col 26}{space 2} .0093465{col 37}{space 1}   12.33{col 46}{space 3}0.000{col 54}{space 4} .0969194{col 67}{space 3} .1335571
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 4.533665{col 26}{space 2} .0489304{col 37}{space 1}   92.66{col 46}{space 3}0.000{col 54}{space 4} 4.437763{col 67}{space 3} 4.629567
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for first differences equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L(1/11).L.lfsato
Instruments for levels equation
{col 3}Standard
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.L.lfsato
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res}-48.53{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res}  3.71{txt}  Pr > z = {res} 0.000
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}42{txt}){col 49}={res} 325.20{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}42{txt}){col 49}={res} 280.79{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Robust, but weakened by many instruments.)

Difference-in-Hansen tests of exogeneity of instrument subsets:
  GMM instruments for levels
    Hansen test excluding group:{col 38}chi2({res}35{txt}){col 49}={res} 258.80{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}    Difference (null H = exogenous):{col 38}chi2({res}7{txt}){col 49}={res}  22.00{txt}{col 59}Prob > chi2 = {res} 0.003

{txt}
{com}. xtabond2 lfsato l.lfsato, gmm(l.lfsato, laglimits (1 1)) twostep robust
{res}{txt}Favoring space over speed. To switch, type or click on {stata "mata: mata set matafavor speed, perm"}.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}pid{txt}{col 49}Number of obs      = {res}    77060
{txt}Time variable : {res}wave{txt}{col 49}Number of groups   = {res}    17076
{txt}Number of instruments = {res}15{col 49}{txt}Obs per group: min = {res}        1
{txt}Wald chi2({res}1{txt}){col 15}= {res}   160.37{col 64}{txt}avg = {res}     4.51
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}        9
{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}   Corrected
{col 1}      lfsato{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}lfsato {c |}
{space 9}L1. {c |}{col 14}{res}{space 2} .1184401{col 26}{space 2} .0093526{col 37}{space 1}   12.66{col 46}{space 3}0.000{col 54}{space 4} .1001094{col 67}{space 3} .1367709
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 4.516162{col 26}{space 2} .0489493{col 37}{space 1}   92.26{col 46}{space 3}0.000{col 54}{space 4} 4.420223{col 67}{space 3} 4.612101
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for first differences equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L.L.lfsato
Instruments for levels equation
{col 3}Standard
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}D.L.lfsato
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res}-49.96{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res}  3.99{txt}  Pr > z = {res} 0.000
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}13{txt}){col 49}={res} 271.63{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}13{txt}){col 49}={res} 211.77{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Robust, but weakened by many instruments.)

Difference-in-Hansen tests of exogeneity of instrument subsets:
  GMM instruments for levels
    Hansen test excluding group:{col 38}chi2({res}6{txt}){col 49}={res} 140.55{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}    Difference (null H = exogenous):{col 38}chi2({res}7{txt}){col 49}={res}  71.22{txt}{col 59}Prob > chi2 = {res} 0.000

{txt}
{com}. xtabond2 lfsato l.lfsato, gmm(l.lfsato, laglimits (2 3)) twostep robust
{res}{txt}Favoring space over speed. To switch, type or click on {stata "mata: mata set matafavor speed, perm"}.
{res}Warning: Two-step estimated covariance matrix of moments is singular.
{res}  Using a generalized inverse to calculate optimal weighting matrix for two-step estimation.
{res}  Difference-in-Sargan/Hansen statistics may be negative.

{txt}Dynamic panel-data estimation, two-step system GMM
{hline 78}
Group variable: {res}pid{txt}{col 49}Number of obs      = {res}    77060
{txt}Time variable : {res}wave{txt}{col 49}Number of groups   = {res}    17076
{txt}Number of instruments = {res}15{col 49}{txt}Obs per group: min = {res}        1
{txt}Wald chi2({res}1{txt}){col 15}= {res}    50.16{col 64}{txt}avg = {res}     4.51
{txt}Prob > chi2{col 15}={res}     0.000{col 64}{txt}max = {res}        9
{txt}{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}   Corrected
{col 1}      lfsato{col 14}{c |}      Coef.{col 26}   Std. Err.{col 38}      z{col 46}   P>|z|{col 54}     [95% Con{col 67}f. Interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 6}lfsato {c |}
{space 9}L1. {c |}{col 14}{res}{space 2} .5555023{col 26}{space 2} .0784352{col 37}{space 1}    7.08{col 46}{space 3}0.000{col 54}{space 4} .4017722{col 67}{space 3} .7092325
{txt}{space 12} {c |}
{space 7}_cons {c |}{col 14}{res}{space 2} 2.267118{col 26}{space 2} .4039912{col 37}{space 1}    5.61{col 46}{space 3}0.000{col 54}{space 4} 1.475309{col 67}{space 3} 3.058926
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
Instruments for first differences equation
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}L(2/3).L.lfsato
Instruments for levels equation
{col 3}Standard
{col 5}_cons
{col 3}GMM-type (missing=0, separate instruments for each period unless collapsed)
{col 5}DL.L.lfsato
{hline 78}
Arellano-Bond test for AR(1) in first differences:{col 52}z = {res}-10.74{txt}  Pr > z = {res} 0.000
{txt}Arellano-Bond test for AR(2) in first differences:{col 52}z = {res}  5.15{txt}  Pr > z = {res} 0.000
{txt}{hline 78}
Sargan test of overid. restrictions: chi2({res}13{txt}){col 49}={res} 133.80{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Not robust, but not weakened by many instruments.)
Hansen test of overid. restrictions: chi2({res}13{txt}){col 49}={res} 164.66{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}  (Robust, but weakened by many instruments.)

Difference-in-Hansen tests of exogeneity of instrument subsets:
  GMM instruments for levels
    Hansen test excluding group:{col 38}chi2({res}8{txt}){col 49}={res} 155.12{txt}{col 59}Prob > chi2 = {res} 0.000
{txt}    Difference (null H = exogenous):{col 38}chi2({res}5{txt}){col 49}={res}   9.54{txt}{col 59}Prob > chi2 = {res} 0.089

{txt}
{com}. 
. 
{txt}end of do-file

{com}. log close
      {txt}name:  {res}<unnamed>
       {txt}log:  {res}C:\Users\Alan\Documents\Comment paper\comment paper table 2 bhps windmeijer.smcl
  {txt}log type:  {res}smcl
 {txt}closed on:  {res}18 Jan 2016, 11:10:09
{txt}{.-}
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